Spruce grows on technical talent base

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With an ambitious remit to cover both traditional and alternative investments, Spruce’s broad and analytical view of the investment universe makes its advice all the more valuable for clients

By Claire Makin

John Bailey

For a relatively small player, John Bailey’s
Spruce Private Investors has attracted some well-known talent.
The newest senior appointment at the $3 billion firm is Robert
Bastone, who built hedge fund infrastructures for both Tiger
Management and Ziff Brothers. Bastone joins a team that Spruce
has drawn exclusively from other brand-name institutions
including JP Morgan, BNP Paribas, and MIT’s
Lincoln Laboratories.

"Step one always is the people," Bailey says. He judges
Spruce’s technical skill set to be a match for any
of the firm’s competitors, large or small.

In Bailey’s opinion it is these technical
skills that have given Spruce its competitive
'edge’ in managing risk. In the nearly 10 years
since Spruce was founded, clients lost money only in 2008, when
they were down 14% to 15%. Most of the hit came in the two
months after Lehman Brothers collapsed....

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